The field of the disclosure relates generally to gaming devices, and more specifically, to a gaming device which enables pari-mutuel betting on historical races, for example, horse and dog races.
Pari-mutuel racetrack systems utilize a unique type of machine, known in the racing industry as a “totalisator”, to enable pari-mutuel wagering. A totalisator or tote is able to accomplish this because it functions to, among other things, eliminate the time-lag in calculating and presenting the pari-mutuel odds on any of the various outcomes in a multiple contestant, order-of-finish race or contest—i.e., the totalisator keeps track of all the pari-mutuel wagers or bets on any of the various outcomes in a race and instantaneously computes and displays the winning odds (the multiple of one's original bet that will be won with a correct bet) on all of the various bets that one might make.
Since its invention in the early 1930s, the totalisator has continued to evolve until today it is involved in almost all aspects of state-regulated, pari-mutuel wagering—including both wagering on “live, multiple-contestant, order-of-finish contests or races” and “instant wagering” or “wagering on previously run, multiple-contestant, order-of-finish races (i.e., historical race wagering).” These forms of pari-mutuel wagering are possible because of the totalisator's ability to interface over a network with and assist in the operation of a wide assortment of specialized devices that are needed to conduct modern, pari-mutuel wagering, including: (a) an administrative terminal that can be programmed to control the actions of the totalizator and its assortment of interfaced, specialized devices and to formulate various, regulatory-required reports that document the many aspects of a state-regulated, pari-mutuel gaming operation, (b) a networked, video server with a database that has video images of gaming contests stored therein, (c) a networked, game server that includes a processor and memory, and (d) networked teller and racetrack or game wagering terminals, some of which may be configured to be effective, self-service, racetrack terminals that may include the following elements: a money or cash accepting device, a printer that makes possible the instantaneous issuing of betting tickets, a document reader capable of reading betting tickets, a sound card, a credit/debit card reader, and a bettor's or user's interface with a touch activated, color display.
State-regulated, pari-mutuel wagering commonly offer pools such as the Pick-6 and the Twin-Trifecta, which are more difficult to win than the simpler win, place or show pools. An increased difficulty of winning results in a decreased frequency of payoff, and consequently, higher payoff. In the Pick-6, if no player exactly matches the winners of all 6 races, a portion of the pool may be paid as a consolation to lesser winners, and the remainder of the pool may be carried forward, progressively increasing from day to day until a player exactly matches the winners. In the Twin-Trifecta, the winners of one Trifecta (selecting the first three winners of a race in exact order) may be paid a portion of the pool. A second Trifecta is then offered to those winners only. Until one or more players win both pools consecutively, the remainder of the pool may be carried forward, progressively increasing. The racing industry has seen a great increase in competition from lotteries and casinos. At least some patrons prefer a more immediate reward and higher frequency wagering than customarily offered at race tracks. For example, a typical racetrack offers one race every half hour. A casino having slot machines, however, offers a patron the opportunity to place a wager that can be won or lost every few seconds.
It would be preferable, of course, to provide patrons with an opportunity to place wagers on a game which supports the racetrack sport. For example, some racetrack operators offer “simulcasting” which enables patrons to wager on races televised from other sites rather than watching a live race. Simulcasting allows racetrack owners to offer more variety to their patrons in addition to the local live racing, and also facilitates maintaining operations even when the local racing season is over. Although simulcasting does enhance patron loyalty, the number of wagers a patron can place is still limited, particularly in comparison to a slot machine.
Known video and mechanical racing games have fixed odds. Such fixed odds typically are required in order to comply with the applicable regulations of lotteries and casinos. However, for at least some patrons, fixed odds games typically are less enjoyable than pari-mutuel wagers. In addition, known racing games normally only simulate a real event, and rather than an actual underlying sport.
It would be desirable to provide a wagering mechanism which incorporates aspects of traditional racetrack wagers, e.g., pari-mutuel methods, progressively increasing carry-over pool for a large payoff, a more frequent consolation payoff to keep interest from waning, and a series of related pools, yet which also can be played quickly, with a possible instant payoff.